Macroeconomics with Heterogeneous Agents and Input-Output Networks
David Baqaee and
Emmanuel Farhi
No 24684, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
The goal of this paper is to simultaneously unbundle two interacting reduced-form building blocks of traditional macroeconomic models: the representative agent and the aggregate production function. We introduce a broad class of disaggregated general equilibrium models with Heterogeneous Agents and Input-Output networks (HA-IO).We characterize their properties through two sets of results describing the propagation and the aggregation of shocks. Our results shed light on many seemingly disparate applied questions, such as: sectoral comovement in business cycles; factor-biased technical change in task-based models; structural transformation; the effects of corporate taxation; and the dependence of fiscal multipliers on the composition of government spending.
JEL-codes: E23 E3 (search for similar items in EconPapers)
Date: 2018-06
New Economics Papers: this item is included in nep-mac and nep-net
Note: EFG PR
References: Add references at CitEc
Citations: View citations in EconPapers (14)
Downloads: (external link)
http://www.nber.org/papers/w24684.pdf (application/pdf)
Related works:
Working Paper: Macroeconomics with Heterogeneous Agents and Input-Output Networks (2018) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:24684
Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w24684
Access Statistics for this paper
More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().